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Mumbai ONGC Oil News: The Central Government -owned oil and Natural Gas Corporation (ONGC) has discovered large amounts of oil and gas in the Mumbai sea level, which will help increase indigenous production in the near future.
ONGC said in its fourth quarter income report that this new quantity has been received from the allocated blocks under the Open Access Licensing Policy (OALP) system.
These new sources of oil and gas are named Suryamani and Vrajmani and both are located quite a distance from the Mumbai coast. One source is located in OalP-6 block MB -SHP-2020/2 and the other is located in OalP-3 block MBoshp-2018/1.
The test conducted during the January-March quarter revealed that 2235 barrel oil and 45181 million cubic meters of gas were recovered daily from the well of Block MB-OSHP-2020/2.
This is the first discovery of Basal Palakara structures from OLP block MB-OSHP-2020/2. ONGC further stated that successful discovery in Kuan MBS 202 HOA-1 has been declared a promising new discovery and is named ‘Suryamani’. Later, during the current quarter, another area of the same well was tested, with 413 barrels of oil and 15,132 cubic meters of gas per day.
It is worth noting here that India’s largest oil and gas areas are located in Mumbai Bay. The Mumbai High, located 160 km from the coast of Mumbai in the Arabian Sea, is currently the largest and most productive oil and gas sector in the country. The region produces about 134,000 barrels of oil per day, which is 35 percent of India’s indigenous crude oil production. The region also produces 10 million standard cubic meters of gas per day, which is about 18 percent of the country’s gas production.
India has to import 85 percent of its oil requirements and half of the gas requirements. Newly discovered oil and gas reserves may increase slightly in domestic production.